McKinsey Quarterly: Are you ready for the era of ‘big data’?
Radical customization, constant experimentation, and novel business models will be new hallmarks of competition as companies capture and analyze huge volumes of data; says the latest McKinsey Quarterly edition.
Consider the challenging possibilities:
1. What happens in a world of radical transparency, with data widely available?
2. If you could test all of your decisions, how would that change the way you compete?
3. How would your business change if you used big data for widespread, real-time customization?
4. How can big data augment or even replace management?
5. Could you create a new business model based on data?
It goes on to make a sweeping statement “In fact, big data may ultimately be a key factor in how nations, not just companies, compete and prosper.”
Read the full article on McKinsey website. Thank You Mr. Chirag Buch for Sharing.
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